18 



General imports and exports of New York only, from January 1 to December 



1 of each year. 



IMPORTS. 



1861 8153, 151, 869 



1862 161, 579, 699 



1863 170, 488, 479 



EXPORTS. 



Domestic produce. Specie. 



1861 $117,574,561 S3, 343, 237 



1862 134, 374, 479 b5, 763, 909 



1863 151, 403, 026 44, 495, 013 



Nominally, the eoiulitioii of our foreign trade appears favorable, but these 

 sums I'epresent a different basis of value. The imports are the foreign value 

 based on gold and silver ; the exports on the home value based on our currency. 

 Following the rule laid down in the annexed communication, that 33^ per cent, 

 should be deducted from the exports of domestic produce to equalize their value 

 with that of our imports, the gold value of the exports of 1863 will be 

 ^100,935,351. Deducted from the imports, the balance against this country is 

 $69,553,125. Last year the balance was also against us. 



But the danger of the present condition of trade will be more clearly seen in 

 a comparison of the imports and exports for the month of November. Up to 

 September our exports of breadstuff's continued heavy, but the last English har- 

 vest, as shown in these reports, was a heavy one, and the crops of the continent 

 were unusually large. Hence our exports of produce have fallen off heavily, 

 and the desti-uctive frosts here have materially advanced home prices. 



The imports for November at New York, and entered for immediate use, are 

 as follows : 



1861 $4, 641, 982 



1862 6, 565, 185 



1863 10, 326, 929 



The exports of domestic produce during the same month, at the same city, 

 have been as follows : 



1861 $14, 109, 763 



1862 14, 060, 340 



1863 11, 413, 591 



Deducting 33^ per cent, from the latter for the difference between currency 

 and gold, and we have 87,609,061 of exports against $10,326,929 of imports — 

 a balance against the country of 26 per cent. 



An evil of such magnitude has but one favorable operation — its increase of 

 the revenue derived from imp )rts. The following figures show what this is : 



